| Element List | Explanation |
|---|---|
| Introduction | The Middle East Paper Company is pleased to announce the resolution of the Board of Directors, in its meeting held on 15 November 2025 regarding the formation of the Audit Committee for the new Board of Directors’ term, which commenced on 14 November 2025 and will continue for Four years until 13 November 2029, as follows: 1) Dr. Ghazi Abdulrahim AlRawi (Independent member) – Chair. 2) Mr. Walid Ibrahim Shukri (Non-Executive member) – Member. 3) Mr. Abdulmohsen Ibrahim AlRayes (External Member)– Member |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Dr. Ghazi Abdulrahim AlRawi |
| Membership Start Date | 2025-11-14 Corresponding to 1447-05-23 |
| Brief Resume of the Appointed Member | He brings with him a wealth of institutional relationships, finance and investment experience, and senior management experience in addition to strong leadership, corporate governance, and communication skills from his current and previous roles, as he is currently the Founder and Chairman of Valuegate Investments, Chairman of Riyadh Airports Company, a Director on the Boards of several listed and unlisted companies, and Chairman of the Audit Committee of Qassim Cement Company and Arabian Drilling Company. He previously served as a Director of the Board and Chairman of Audit Committee of Saudi Ports Authority and Director of the Board and member of the Audit Committee of BSF. He also has strong entrepreneurial and business development skills and experience and has founded and/or co-founded several businesses and companies in different sectors. From 2006 to 2015, he was a Founder and Managing Partner of Eastgate Capital Group, a leading regional private equity and real estate investment firm affiliated with SNB Capital. Previous to that, he was with McKinsey & Company. He was also a faculty member at King Abdulaziz University in Jeddah, and prior to that worked for leading telecommunication companies in the United States. He holds an M.S. degree and a Ph.D. degree in Electrical Engineering and an M.S. degree in Management Science & Engineering with a focus on Finance and Investments, all from Stanford University. |
| The date of the approval by other official authorities | Not Applicable |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Mr. Walid Ibrahim Shukri |
| Membership Start Date | 2025-11-14 Corresponding to 1447-05-23 |
| Brief Resume of the Appointed Member | He holds a Bachelor degree in Industrial Management (accounting), a prior CPA license from the U.S. and SOCPA from Saudi Arabia, with an extensive experience in accounting, finance, internal audit, risk management, compliance, and governance. He is also a Member in various Boards of Directors and Chaired several Auditing, Risk, and Compliance Committees in various joint-stock companies and Government entities. |
| The date of the approval by other official authorities | Not Applicable |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Mr. Abdulmohsen Ibrahim AlRayes |
| Membership Start Date | 2025-11-14 Corresponding to 1447-05-23 |
| Brief Resume of the Appointed Member | Currently a Senior Control Advisor at NEOM, and prior to that he was the General Audit Advisor for Banque Saudi Fransi Group. He served as Chief Internal Audit Officer and Secretary of the Audit Committee at Banque Saudi Fransi, where he led the development of the internal audit strategy and its alignment with international best practices. He took on the role of Chief Internal Audit Officer at ANB, where he founded and developed internal audits and focused on risk management and governance. He worked as the Head of International Recruitment at the Saudi Industrial Development Fund. He was the Senior Manager of Retail Banking in the Central Region at Saudi British Bank. He has been a member and chair of audit committees in major companies and institutions such as BSF Capital, BSF JB, and Saudi Arabian Football Federation, and Riyadh Airports Company. |
| The date of the approval by other official authorities | Not Applicable |
| Element List | Explanation |
|---|---|
| Date of Board Meeting in which Appointed New Member(s) were Appointed | 2025-11-15 Corresponding to 1447-05-24 |
